Loan Comparison: 2.88% vs 6.5%
1241 York, Denver, CO 80206 · 4bd/3ba · $999,500
List Price
$999,500
Assumable Rate
2.88%
Remaining Balance
$844,022
Equity Gap
$153,585
Loan Type
VAAdjust Your Scenario
$49,975
$49,975$153,585
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,002/moAssumable @ 2.88% + gap loan
$4,301/moAssumed loan: $3,504/mo
Gap financing: $797/mo
$1,701less per month with the assumable
Your Savings on This Property
1241 York, Denver · 2.88% VA vs 6.5% conventional
$1,701
per month
$20,411
per year
$612,336
over 30 years
$610,443
interest saved
How gap financing works: The equity gap ($153,585) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,975, 5% of purchase price) and a second mortgage for the rest ($103,610 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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